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STX Entertainment
| industry = Entertainment | services = | owner = Hony Capital Tencent PCCW TPG Growth Liberty Global | divisions = | homepage = stxentertainment.com | caption = | foundation = Michael J. de la Merced, "New Movie Studio Is Formed, With China and Self-Distribution in Mind," New York Times, March 10, 2014. | location_city = Burbank, California | location_country = United States }} STX Financing, LLC (trading as STX Entertainment) is an American entertainment and media company that creates, produces, distributes, finances and markets film (STX Films), television (STX Television) and digital media (STX Digital), which includes live events and virtual reality (STX Surreal). The company was founded in 2014 by film producer Robert Simonds and Bill McGlashan, managing partner of the private equity firm TPG Growth, STX's first investor. The company is also funded by Chinese private equity firm Hony Capital; Chinese conglomerate Tencent; Hong Kong-based company PCCW; international television and broadband company Liberty Global; and individual investors including Gigi Pritzker, Beau Wrigley, and Dominic Ng.Ryan Faughnder, "STX Entertainment secures funding from China's Tencent and PCCW," The LA Times, April 11, 2016.Rebecca Ford, "Showtime, STX Entertainment Announce TV Deal and First Four Films," The Hollywood Reporter, January 20, 2015.Dave McNary, "'John Malone Invests in STX Entertainment Through Liberty Global," Variety, November 30, 2017. STX aims to bridge the gap between the U.S. and China, with additional partnerships around the globe (STX International) and direct distribution agreements with theaters, networks, and platforms. The company was rumored to be eyeing an initial public offering in mid-2018 that could value it at $3.5 billion USD.Wayne Ma and Julie Steinberg, "'Bad Moms' Movie Studio Plans Hong Kong IPO," Wall Street Journal, September 27, 2017. In April 2018, the company announced it had filed for an IPO on the Hong Kong Stock Exchange.David Ng, "STX Entertainment files for planned IPO in Hong Kong," Los Angeles Times, April 26, 2018. History Founding In 2012, Simonds and McGlashan began conceptualizing a media company based on the idea of producing medium-budget projects with a star attached, a method that had gone out of style with Hollywood studios. The conversation led to the launch of STX Entertainment in 2014 with the mission to finance, develop, produce, market and self-distribute star-driven content around the world.Anita Busch, "Is This Hollywood’s Next Major Studio? Bob Simonds & TPG Growth’s Venture Fully Financed, JP Morgan Says; Hiring, Deals To Start In Earnest," Deadline Hollywood, March 13, 2014.Tad Friend, "The Mogul of the Middle," The New Yorker, January 11, 2016. Management Robert Simonds serves as chairman and CEO; former Viacom Entertainment Group chief operating officer Tom McGrath serves as COO; former chief executive officer of Crest Animation Noah Fogelson is general counsel and executive vice president of corporate strategy; former Discovery Communications chief financial officer Andrew Warren serves as CFO; and former brand communications head for Condé Nast and Paramount Pictures Patricia Röckenwagner serves as chief brand officer.Dave McNary, "STX Taps Discovery’s Andrew Warren as Chief Financial Officer," Variety, February 13, 2017.James Rainey, "STX Entertainment Names Patricia Rockenwagner Chief Communications Officer," Variety, December 14, 2016. In September 2014, former Universal Pictures chairman Adam Fogelson was hired as chairman of the Motion Picture division, STX Films.Anita Busch, "Former Uni Chairman Adam Fogelson Hired As Chairman Of STX Entertainment Motion Picture Group," Deadline.com, September 24, 2014. In April 2016, David Kosse announced he would be leaving as CEO of British production company Film4 to join STX as president of STX International.Ali Jaafar, "David Kosse Leaving Film4 To Join STX, Heading New International Division," Deadline.com, April 1, 2016. Also that month, Punk'd creator Jason Goldberg signed on to run unscripted programming for STX Television.Cynthia Littleton, "‘Punk’d’ Creator Jason Goldberg to Head Unscripted TV at STX Entertainment," Variety, April 25, 2016. STX's Board of Directors is composed of investors and industry veterans including Simonds, McGlashan, David Bonderman (founding partner of TPG Capital), John Zhao (CEO of Hony Capital), Gigi Pritzker (founder of MWM Studios), Janice Lee (managing director of PCCW Media Group), Tracy Cui (managing director of Hony Capital), Frank Biondi (former president and CEO of Viacom and former chairman and CEO of Universal Studios), Dominic Ng (chairman and CEO of East West Bank), Carmen Chang (chairman and head of Asia for New Enterprise Associates, and Bruce Mann (chief programming officer of Liberty Global).David Lieberman, "STX Entertainment Adds Venture Capitalist Carmen Chang To Its Board," Deadline.com, November 3, 2015."Gigi Pritzker investing in new U.S. movie studio," Crain's Chicago Business, March 10, 2014. Divisions STX Entertainment has multiple divisions: film (STX Films), which includes animation and family content; television (STX Television), which includes scripted and unscripted content; and digital media (STX Digital), which includes live events and virtual reality (STX Surreal); along with an international partnership and distribution arm headquartered in London (STX International). STX Films Distribution At launch, the film division of STX focused its efforts on creating a new model. Rather than pursuing the traditional distribution process, the company secured direct distribution agreements with North American theater chains AMC, Regal, Cinemark, Goodrich, Marcus Theatres and Carmike Cinemas."Robert Simonds, Gigi Pritzker Pact with TPG, China’s [[Hony Capital] on Production Venture,"] Variety, March 10, 2014. In early 2015, the company signed a multiyear television output agreement to release films exclusively to Showtime Networks and its channels Showtime, The Movie Channel and Flix, during the premium television window. The deal covers STX Films theatrical releases through 2019.Dave McNary, "STX Entertainment, Showtime Announce TV Output Deal and First 4 Films," Variety, January 20, 2015. In April 2015, the company entered into a multiyear partnership with Universal Studios Home Entertainment for Universal to handle marketing, sales and distribution services for Blu-ray, DVD and VOD platforms for STXfilms theatrical titles in North America.Rebecca Ford, "STX Entertainment Signs Pact With Universal Studios Home Entertainment," The Hollywood Reporter, April 7, 2015. That same month, STX Films closed a three-year slate deal with Huayi Brothers, one of China's largest film studios, enabling the companies to co-produce and co-distribute 12 to 15 films annually.Anita Busch and Nancy Tartaglione, "STX Entertainment Pacts With China’s Huayi Bros For 12-15 Pics Per Year," Deadline.com, April 1, 2015.Brent Lang, "STX Entertainment Chief Says Huayi Deal ‘Supercharges Our Business Plan’," Variety, April 1, 2015.Richard Verrier, "China's Huayi Bros. Media closes film slate deal with STX Entertainment," Los Angeles Times, April 2, 2015. In January 2017, STX Films signed a three-year marketing and distribution agreement with Luc Besson's EuropaCorp Films USA to release their upcoming slate of films in the US. In February 2018, STX Films announced it will distribute Netflix and Martin Scorsese's mob drama The Irishman in China along with Media Asia Entertainment Group.Anita Busch, "STX To Distribute Martin Scorsese’s ‘The Irishman’ After All With China Deal: The Crazy Backstory," Deadline.com, February 9, 2018. Film projects In line with its mission to make medium-budget, star-driven content, STX Films projects have included Bad Moms starring Mila Kunis, Kristen Bell and Christina Applegate;Anthony D'Alessandro, "'Bad Moms' Sleeps Its Way To The Top Of The B.O.; Becomes STX's First $100M Domestic Hit," Deadline.com, September 3, 2016. Molly's Game, written and directed by Aaron Sorkin and starring Jessica Chastain;Scott Mendelson, "With Jessica Chastain's 'Molly's Game,' STX Continues To Bet On Women," Forbes, August 15, 2017. The Gift, written, co-produced and directed by Joel Edgerton and starring Jason Bateman and Rebecca Hall;Mannie Holmes, "Joel Edgerton, Jason Bateman Celebrate STX Entertainment’s First Premiere of ‘The Gift’," Variety, July 31, 2015. The Edge of Seventeen starring Hailee Steinfeld;Pete Hammond, "With ‘The Edge Of Seventeen’, Toronto Saves One Of The Best For Last," Deadline.com, September 16, 2016. The Foreigner starring Jackie Chan and Pierce Brosnan;Nancy Tartaglione, "'The Foreigner's Wayne Marc Godfrey On Decade-Long Journey; STX/Sparkle Roll China Co-Pro Soon Passing $100M Offshore," Deadline.com, October 27, 2017. Secret in Their Eyes starring Chiwetel Ejiofor, Nicole Kidman and Julia Roberts;Nancy Tartaglione, "....Acquired by STX" Deadline.com, December 2, 2014. The Boy starring Lauren Cohan;Nancy Tartaglione, "STX/Lakeshore Horror Pic ‘The Boy’ Scares Up China Release Date Via Huayi," Deadline.com, March 16, 2016. and Free State of Jones starring Matthew McConaughey.Nancy Tartaglione, "IM Global Strategy Pays Off With Strong Sales On ‘Free State Of Jones’ & More – AFM," Deadline.com, November 17, 2014. In 2015, STXfilms acquired its first feature at the Toronto International Film Festival, purchasing the worldwide rights to the sci-fi, action adventure Hardcore Henry for $10 million USD. In 2017, STXfilms announced the following projects: I Feel Pretty with Amy Schumer;Mike Fleming Jr, "STXfilms Buys Amy Schumer Pic 'I Feel Pretty': Cannes," Deadline.com, May 25, 2017. Gringo with Amazon Studios, starring Charlize Theron;Anita Busch, "Nash Edgerton Film Starring David Oyelowo, Charlize Theron Gets Title, Release Date," Deadline.com, May 19, 2017. The Happytime Murders with Melissa McCarthy;Dave McNary, "Melissa McCarthy to Star in Puppet Comedy 'Happytime Murders'," Variety, May 2, 2017. an untitled romantic comedy developed by and starring Anne Hathaway;Max Evry, "Anne Hathaway to star in untitled romantic comedy for STX," ComingSoon.net, May 23, 2017. and Second Act, a romantic comedy starring Jennifer Lopez and directed by Peter Segal.Mia Galuppo, "Jennifer Lopez to Star in Romantic Comedy 'Second Act' for STX," The Hollywood Reporter, June 22, 2017. In 2017, STX Films announced its expansion into animation and family content with a partnership with the Uglydoll brand, a line of plush characters created by David Horvath. The UglyDolls film will be produced by Robert Rodriguez, director of the Spy Kids film franchise, and will feature the voice of Pitbull.Maane Khatchatourian, "Robert Rodriguez to Direct 'Ugly Dolls' Animated Film for STX," Variety, March 28, 2017. In 2018, Hasbro was named as the master toy licensee for the franchise.Brent Lang, "STX Taps Hasbro to Handle Uglydolls Toys," Variety, February 27, 2018. In January 2018, STX Films and Tencent Pictures announced a co-development deal with Jason Statham targeting the Chinese film market. Statham starred in Furious 7 and The Fate of the Furious, China's two highest-grossing imported films ever.Patrick Brzeski, "Jason Statham Developing Action Film With STX, China's Tencent Pictures," The Hollywood Reporter, January 16, 2018. In February 2018, STX Films signed a deal with Alibaba Pictures to co-develop and co-produce the action-sci-fi film Steel Soldiers. Under the deal, STX Films will handle US and international distribution with Alibaba Pictures retaining rights in Greater China.Patrick Hipes, "STX & Alibaba Team On Sci-Fi Action Film ‘Steel Soldiers’," Deadline.com, February 6, 2018. Awards and recognition In 2016, STX Films became the fastest studio ever to hit $100 million at the domestic box office with the R-rated comedy Bad Moms. The film has earned more than $180 million USD worldwide, was the first R-rated comedy since The Hangover to get an A on CinemaScore and was the most profitable film of the year (by net profit).Mike Fleming Jr, "The Outliers Of 2016: Smaller Movies With Big Profits," Deadline.com, March 30, 2017. The film also earned a People's Choice Award for Best Comedy."People's Choice Awards 2017 Winners List," The Hollywood Reporter, January 18, 2017. The 2017 American crime drama Molly's Game was nominated for an Academy Award for Best Adapted ScreenplayDave McNary, "‘Call Me by Your Name’ Screenwriter James Ivory Becomes Oldest Oscar Winner," Variety, May 4, 2018. along with BAFTA, WGA,Mark Olsen, "Diverse batch of WGA screenplay nominations include 'The Big Sick,' 'Get Out' and 'Logan'," Los Angeles Times, January 4, 2018. and Golden Globe nominations.Devan Coggan, "Watch Aaron Sorkin do a happy dance celebrating Jessica Chastain’s Golden Globe nod," Entertainment Weekly, December 11, 2017. The Edge of Seventeen was nominated for an MTV Movie Award for Movie of the Year,Madeline Roth, "5 Reasons Why The Edge of Seventeen is a New Teen Classic," MTV News, May 6, 2017. a Directors Guild Award for Outstanding Achievement in a First-Time FeaturePete Hammond, "Directors Guild Film Nominations: 'La La Land', 'Moonlight', 'Manchester', 'Arrival' & 'Lion'," Deadline.com, January 12, 2017. and a Golden Globe Award for Hailee Steinfeld.Matt Grobar, "The Edge of Seventeen's Hailee Steinfeld Discusses Teen Comedy, New Album And Desire To Integrate Film And Music," Deadline.com, December 13, 2016. On review aggregator website Rotten Tomatoes, the film has an approval rating of 95%. Genre films have also received recognition. The psychological horror-thriller The Gift was nominated for a Directors Guild Award for Outstanding Achievement in a First-Time FeatureAisha Harris, "Directors Guild of America Nominations Suggest You Shouldn't Bet Against The Big Short," Slate, January 12, 2016. and won a Sitges Film FestivalSitges 2015 Awards and Fangoria Chainsaw Award. The Space Between Us starring Gary Oldman was nominated for Choice Sci-Fi Movie and Choice Sci-Fi Movie Actor at the 2017 Teen Choice Awards.Ella Ceron, "Teen Choice Awards 2017: See the First Wave of Nominations," Teen Vogue, June 19, 2017. The horror thriller The Bye Bye Man overperformed industry expectations with a $13.5 million USD domestic opening weekend.Anita Busch, "'Split' And 'xXx' Merge Into Market While 'The Founder' May Get Lost In Heavy Traffic," Deadline.com, January 17, 2017. The Foreigner, a co-production with Jackie Chan's Sparkle Roll Media, crossed $100 million in global box office revenue in October 2017. The film is one of the most successful U.S. and China co-productions, being classified as "a clear winner given that it cost just $35 million" and "a fine example of how a Chinese co-production can work."Scott Mendelson, "Box Office: Jackie Chan's 'The Foreigner' Is Succeeding Where 'Warcraft' Failed," Forbes, October 14, 2017.Patrick Brzeski, "China Box Office: 'Never Say Die' Becomes Biggest Single-Market Comedy Ever With $280M," The Hollywood Reporter, October 15, 2017. STX Films strives for female diversity in front of and behind the camera. More than 20 films have starred or were directed by women. STX Television The television division's first project was the 2014 drama-thriller State of Affairs, starring Katherine Heigl and Alfre Woodard. The 13-episode series was developed by STXtelevision and sold to NBC.James Hibberd, "Katherine Heigl drama plus 2 more get NBC series orders," Entertainment Weekly, May 6, 2014.Saba Hamedy, "TV ratings: NBC wins key demo; 'State of Affairs' has decent premiere," Los Angeles Times, November 18, 2014. In 2015, STX Television produced the NBC pilot Problem Child, based on the 1990 film of the same name.Nellie Andreeva, "‘Problem Child’ Comedy Based On Movie Gets NBC Pilot Order," Deadline.com, January 29, 2015. In April 2016, STX Television expanded into unscripted and reality content, hiring veteran TV producer Jason Goldberg. A few months later, the variety show Number One Surprise launched, which was the first TV series created by a US-based company specifically for broadcast in China. The series premiere in November 2016 on Hunan TV, a Chinese TV station, along with digital platforms Mango TV and PPTV, was viewed nearly 300 million times, and by January 2017 it was the #1 show in China with over 1 billion views.Patrick Brzeski, "STX Entertainment Scores Ratings Hit With First TV Show Made for China," The Hollywood Reporter, January 5, 2017.Matt Donnelly, "STX Entertainment Struggles With Flops, Executive Exits and a Shift in Strategy," TheWrap, March 27, 2017. In May 2017, STX Television announced it had acquired the first TV project from Kevin Kwan, author of Crazy Rich Asians.Rebecca Sun, "'Crazy Rich Asians' Author Developing Scripted Series With STX," The Hollywood Reporter, May 4, 2017. In July 2017, E! greenlit the reality series The Platinum Life, to be produced by STX Television and Tower 2 Productions.Greg Evans, "E! Spins ‘The Platinum Life’: Reality Series With Music’s Wives & Girlfriends," Deadline.com, July 20, 2017. In November 2017, STX Television announced its first scripted show Valley of the Boom, a docudrama about the 1990s tech boom from showrunner and director Matthew Carnahan and executive producer Arianna Huffington. The show is set to air on NatGeo, with STX to distribute in China.Denise Petski, "Nat Geo Greenlights Silicon Valley-Themed Limited Series From Matthew Carnahan, Arianna Huffington & StxTV," Deadline, November 15, 2017. STX Television produced season 23 of True Life, which aired on MTV in 2017. The company also produced the docuseries A Little Too Farr, following American country singer-songwriter Tyler Farr, which premiered on Verizon's go90 streaming service. In February 2018, Fox and STX Television announced that it is developing an unscripted series based on its film Bad Moms.Michael O'Connell, "Fox Developing 'Bad Moms' Unscripted Series," The Hollywood Reporter, February 8, 2018. In April 2018, Mother Media Group, founded by former Endemol Shine and 20th Century Fox executives, signed a first-look deal with STX Television. Under the pact, the companies will collaborate to create, produce and distribute unscripted and hybrid series.Nellie Andreeva, "Eden Gaha’s Mother Media Group Inks First-Look Deal With STXtv," Deadline.com, April 9, 2018. STX Digital The digital division of STX Entertainment focuses on digital programming, partnerships and distribution, which includes live events and virtual reality (VR). In August 2016, STX acquired the VR creator and distributor Surreal, renaming it STXsurreal.Lucas Matney, "STX Entertainment acquires VR studio Surreal," TechCrunch, August 23, 2016. Founded in 2015, in its first year, Surreal produced over 70 immersive VR experiences featuring Gordon Ramsay, Snoop Dogg, Jon Hamm, Jimmy Kimmel, Wolfgang Puck and Wiz Khalifa, among others.Natalie Jarvey, "STX Entertainment Acquires Virtual Reality Producer Surreal," The Hollywood Reporter, August 23, 2016. In 2017, STX Surreal was nominated for an interactive Daytime Emmy Award for the Nickelodeon short Nickelodeon's Ultimate Halloween Haunted House 360 Challenge''Mercedes Milligan, "2017 Daytime Emmy Award Winners," ''Animation Magazine, April 30, 2017. and won a Shorty Award for Best Use of 360 Video for their 360° production of the 68th Emmy Awards, in collaboration with the Academy of Television Arts & Sciences and Facebook.68th Emmys 360, Shorty Awards, 2017. In June 2017, STX Surreal announced a partnership with media services agency Horizon Media to develop and produce VR and immersive content for the brand’s new UNCVR unit.Carolyn Giardina, "Horizon Media Launches Virtual Reality Unit UNCVR; Partners With STX Surreal," The Hollywood Reporter, June 8, 2017. In 2018, STX Surreal announced a slate of original projects including The Limit, a live-action, short-form series from Robert Rodriguez and starring Michelle Rodriguez;Jon Fingas, "Robert Rodriguez preps VR action series 'The Limit'," Engadget, February 14, 2018. New Tricks, directed and produced by Ed Helms;Anita Busch, "STXSurreal Unveils Development Slate With Ed Helms, Dave Bautista, Peter Berg, And Kevin Smith’s ‘Jay And Silent Bob’," Deadline.com, April 4, 2018. The Kiev Exchange, a spin-off of STX Films' Mile 22; Jay and Silent Bob VR, written, produced, and directed by Kevin Smith; and untitled projects from Dave Bautista and Derek Kolstad. In December 2017, under a new pact with Dick Clark Productions (dcp), STX Digital acquired the exclusive Chinese distribution rights to Dick Clark's New Year's Rockin' Eve with Ryan Seacrest, along with the Chinese distribution rights to the 2018 Golden Globes broadcast from dcp and the Hollywood Foreign Press Association.Anita Busch, "STX, Dick Clark Prods. Will Distribute ‘New Year’s Rockin’ Eve’ In China," Deadline.com, December 21, 2017. STX Digital and Tencent partnered to broadcast both shows on Tencent Video, an ad-supported and subscription streaming-video service. In January 2018, STX Digital and Tencent announced they would also co-produce a live Chinese-language Golden Globes red carpet pre-show, to air live with the telecast.Patrick Brzeski, "STX Partners With Tencent on Golden Globes Broadcast in China," The Hollywood Reporter, January 5, 2018. STX International In April 2016, a dedicated international division (STX International) opened to further expand global production and distribution capabilities. Headquartered in London, the division is led by former Film4 head David Kosse.Matt Mueller, "STX interview: president Sophie Watts on David Kosse's arrival and European distribution plans," Screen Daily, April 1, 2016. The division launched with a slate of six films that included Andy Serkis's directorial debut Breathe (which opened the 2017 London Film Festival),Gwilym Mumford, "Andy Serkis directorial debut Breathe to open 61st London film festival," The Guardian, June 29, 2017. Home Again starring Reese Witherspoon, and the thriller Wind River starring Jeremy Renner and Elizabeth Olsen.Dave McNary, "STX Announces Five-Film U.K. Slate, Opens International Headquarters in London," Variety, February 8, 2017. Additional titles on the STX International slate include Ridley Scott's All the Money in the World, Morten Tyldum's thriller The Marsh King's Daughter and Bart Layton's heist genre American Animals, along with titles from the main STX Films slate.Nancy Tartaglione, "STX Snatches International Rights To Ridley Scott’s Getty Kidnap Thriller ‘All The Money In The World’," Deadline.com, May 20, 2017. IPO In September 2017, it was reported that STX may be close to an initial public offering on the Hong Kong Stock Exchange (SEHK). While based in the US, the company has numerous corporate and business relationships with China, and it has been reported that a listing on the SEHK could make it easier for Chinese companies to invest in Hollywood films. STX was valued at $1.5 billion in 2016. In September 2017, the Wall Street Journal stated that the company could be valued at $3.5 billion after raising an additional $500 million following the IPO.Patrick Frater, "STX Eyeing $3.5 Billion Hong Kong IPO in 2018," Variety, September 27, 2017.Anita Busch, "STX To Launch IPO On Hong Kong Stock Exchange In 2018," Deadline.com, September 27, 2017. In April 2018, the company announced it had filed for IPO on the Hong Kong Stock Exchange. J. P. Morgan & Co. and Goldman Sachs are STX's sponsors for the IPO. Filmography Film Television and digital References External links * * Category:STX Entertainment Category:American film studios Category:Film production companies of the United States Category:Entertainment companies based in California Category:Companies based in Los Angeles Category:Entertainment companies established in 2014 Category:2014 establishments in California Category:Film distributors of the United States